U.S. Stock Futures Surge After Jobs Data; El-Erian To Discuss Economic Situation
U.S. stock futures traded higher in early pre-market trade. The U.S. economy added 292,000 new jobs in December, versus economists' expectations for a gain of 205,000 jobs. The unemployment rate was unchanged at 5 percent. Data on wholesale inventories for November will be released at 10:00 a.m. ET, while consumer credit data for November will be released at 3:00 p.m. ET. Futures for the Dow Jones Industrial Average jumped 197 points to 16,616.0, while the Standard & Poor's 500 index futures rose 25.75 points to 1,958.75. Futures for the Nasdaq 100 index surged 56 points to 4,345.25.
Noted economist Mohamed El-Erian will join PreMarket Prep at 9:10 a.m. ET to talk China, the jobs report and the global economic outlook. Click here to join the live show.
A Peek Into Global Markets
European markets were mixed today, with the Spanish Ibex Index declining 0.07 percent, STOXX Europe 600 Index gaining 0.11 percent and German DAX 30 index gaining 0.38 percent. French CAC 40 Index slipped 0.18 percent.
In Asian markets, Japan's Nikkei Stock Average fell 0.39 percent, Hong Kong's Hang Seng Index rose 0.59 percent, China's Shanghai Composite Index climbed 1.97 percent and India's BSE Sensex gained 0.33 percent.
Analysts at CLSA upgraded Kellogg Company (NYSE: K) from Underperform to Outperform and raised the price target to $79.00.
Kellogg shares rose 1.59 percent to $71.50 in pre-market trading.
- Regeneron Pharmaceuticals Inc (NASDAQ: REGN) and Sanofi SA (ADR) (NYSE: SNY) today announced that the U.S. Food and Drug Administration (FDA) has accepted for review the Biologics License Application (BLA) for sarilumab. To read the full news, click here.
- Sunedison Inc (NYSE: SUNE) today announced that it has signed a 20-year power purchase agreement with Watervliet, New York for close to 1 megawatt DC of solar power. To read the full news, click here.
- Penske Automotive Group, Inc. (NYSE: PAG), an automotive and commercial vehicle dealership operator, announced on Thursday its entry to the Japanese market. To read the full news, click here.
- Technip (ADR) (OTC: TKPPY) was awarded a contract by Air Products & Chemicals, Inc. (NYSE: APD) to provide technology, engineering and procurement services for a grassroots hydrogen plant in Baytown, Texas, USA. To read the full news, click here.
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